Norman Hsu Watch: INDICTED on 15 Counts

Norman Hsu, 56, is escorted into a Redwood City, Calif., courtorom, Friday, Sept. 21, 2007. Hsu on Tuesday was charged with fraud and campaign finance violations in a case that prompted Democratic presidential hopeful Hillary Clinton to return hundreds of thousands of dollars in contributions.

Flap told you that this sotry would rear its UGLY HEAD when Hillary Clinton was in the thick of Presidential politics.

Today, Norman Hsu was indicted by a federal Grand Jury and was accused of cheating investors of at least $60 million and using some of the money to to make illegal donations to political campaigns. In the 15-count indictment returned in U.S. District Court in Manhattan, the government accused the 56-year-old clothing-industry entrepreneur of duping investors nationwide with a massive Ponzi scheme. The government said Hsu also violated federal campaign finance laws by making contributions to various political candidates in the names of others.

The indictment charges Hsu, 56, with six counts of mail fraud, six counts of wire fraud and three counts of violating the Federal Election Campaign Act, which limits individual campaign contributions.

If convicted, Hsu could face 20 years in prison on each fraud charge and five years on each campaign finance charge, as well as fines, U.S. Attorney Michael Garcia said.

Will this indictment affect the Hillary Clinton Presidential campaign?

Probably not – she returned the money. But every time it is mentioned in the press it reminds voters of the sleazy conduct of her husband and former President Bill (remember Charlie Trie).

Norman Hsu and Senator Hillary Clinton

Although there my be a plea deal in the state of California, these “new” federal charges will, if Hsu is convicted, likely send him to prison for many years – unless he gives up something to federal prosecutors in return for a federal plea deal.

Might Hillary and other Democrat politicians have cause to be worried?

Perhaps

There are other legs to the Chinese connection for the Clintons to be concerned:

Since former President Bill Clinton has not released the list of donors to his Presidential Library, might Hsu and his Chinese minions somehow be linked to donations there?
And, if there is a growing federal criminal investigation into the New York City Chinese immigrant donations to Hillaryâ€™s campaign, there will be plenty of stories for her campaign to deflect.

Stay tuned……

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